BNP Paribas is switching to the Buy Now, Pay Later B2B platform.
This transition is carried out within the framework of cooperation of a financial institution with the fintech company Hokodo. The bank’s customers will have to install the BALL application, which was created specifically for large multinational corporations. This application is integrated with existing checkout systems and provides instant customer approval in the process of making a loan decision in real-time.
The full range of services includes in-house credit decision-making, transaction financing, credit insurance against fraud, collection through eMandate, and dunning. Various financing options are also available, which are designed to meet the needs of consumers with the highest quality.
Lionel Joubeau, Global Head of Factoring at BNP Paribas, says that after decades of successful development of the European factoring franchise, it’s time to introduce a new generation solution for customers who want to increase digital sales in the format
In partnership with Hokodo, the financial institution uses the best knowledge in the sphere of money management and factoring to offer a Buy Now, Pay Later solution.
BNP Paribas is a larger French bank. The headquarters of the financial institution is located in Paris. The bank was established in 2000 as a result of the merger of Banque Nationale de Paris (BNP) and Paribas. The capitalization of the financial institution is more than $ 80 billion. The bank is developing an integrated retail business model in Eastern Europe, the Mediterranean Basin countries, and Turkey. BNP Paribas also owns a large network of bank branches in the western United States. The main activities of the financial institution are retail and corporate banking services and investment solutions.
As we have reported earlier, BNP Paribas Invests in Fintech.